Press release - Telenet purchases BelCompany Belgium

Macintosh Retail Group NV has reached agreement with Telenet on the sale of its BelCompany stores and points of sale in Belgium, as well as its head office in Mechelen. The transfer will take effect as from 30 June 2009. The staff in the relevant stores and in head office will transfer to Telenet under the same terms and conditions of employment.

BelCompany is the second largest independent supplier of mobile telecom and related products in Belgium. Its range comprises the latest products and the widest possible choice of mobile phones, subscriptions, accessories and pre-paid products of all brands, as well as Internet products. BelCompany stores are situated at prime locations in all medium-sized and large cities, thus operating near the customer. The 15 Discovery Stores which BelCompany operates will not be included in the transaction.

Duco Sickinghe, CEO of Telenet: "The acquisition of BelCompany Belgium brings Telenet literally even closer to its customers. BelCompany offers Telenet the possibility on the one hand to make its mobile offering more widely available and on the other hand to develop an improved service offering for its existing products. The BelCompany network is very well positioned and complementary with our existing dealer network. This transaction will have no material impact on the consolidated result of Telenet, and we also expect the additional synergy will allow us to realize a number of advantages. The management of BelCompany Belgium remains unchanged and will develop the existing strategy based on multi brand offering with great endeavour."

Frank De Moor, CEO of Macintosh Retail Group: "We have concluded that Telenet offers substantially better growth opportunities for BelCompany Belgium. Another significant factor is that it is virtually impossible to support the Belgian operations from the profitable BelCompany Netherlands operations, which will remain part of Macintosh Retail Group. The sale of BelCompany Belgium to Telenet and Telenet's high brand awareness will undoubtedly reinvigorate the stores. Furthermore, the sale will have a small positive impact on Macintosh Retail Group's net result for the whole of 2009 (excluding non-recurring items), partly due to the selling price of € 6 million."

Leonardo & Co and Cleary Gottlieb Steen & Hamilton LLP acted as the principal advisors to Macintosh Retail Group.

KBC Securities and Laga Advocaten acted as the principal advisors to Telenet.

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About Telenet SA

As a provider of entertainment and telecommunication services in Belgium, Telenet group is always looking for the perfect experience in the digital world for its customers. Under the brand name Telenet, the company focuses on offering digital television, high-speed Internet and fixed and mobile telephony services to residential customers in Flanders and Brussels.

Under the brand name BASE, it supplies mobile telephony, internet and television in Belgium. The Telenet Business department serves the business market in Belgium and Luxembourg with connectivity, hosting and security solutions. More than 3,000 employees have one aim in mind: making living and working easier and more pleasant.

Telenet group is part of Telenet Group Holding NV and is a 100% owned subsidiary of Liberty Global. Liberty Global is one of the world’s leading converged video, broadband and communications companies, innovating and empowering people in six countries across Europe to make the most of the digital revolution. For more information, we refer to www.telenet.be

The Telenet newsroom can be found at press.telenet.be

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